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Trump Built a National Debt So Big - Before COVID-19 - It’ll Weigh Down The Economy For Years Trump Built a National Debt So Big - Before COVID-19 - It’ll Weigh Down The Economy For Years
Trump Built a National Debt So Big - Before Covid-19 - It’ll Weigh Down The Economy For Years The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president. One of President Donald Trump’s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt, Propublica reported. The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much …

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by Allan Sloan, ProPublica, and Cezary Podkul for ProPublica Jan. 14, 5 a.m. EST
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COVID-19: How Americans Reduced Personal Credit Card Debt By $83 Billion In 2020 COVID-19: How Americans Reduced Personal Credit Card Debt By $83 Billion In 2020
Covid-19: How Americans Reduced Personal Credit Card Debt By $83 Billion In 2020 Many Americans have used downtime and stimulus payments from the fed to reduce their personal credit card debt. Citizens paid off or otherwise got rid of $82.9 billion in credit card debt in 2020, according to WalletHub, which cited the Federal Reserve. This is a huge reversal in the last 10 years of U.S. credit card trends. Typically, Americans added $54.2 billion to the national credit card debt per year. Still, a lot of debt remains. U.S. consumers owe a collective $1 trillion to credit card companies, WalletHub said. The average household credit card debt is a little over $8,000 - whi…

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by Kristin Palpini